Resort real estate projects attract foreign investment
Foreign direct investment (FDI) in the real estate market hit nearly 52.7 billion USD as of May this year, with 65 percent of which or 40 billion USD being poured into resort projects.
FLC Group (Photo: viettimes.vn)Hanoi (VNA) - Foreign direct investment (FDI) in the real estate market hit nearly 52.7 billion USD as of May this year, with 65 percent of which or 40 billion USD being poured into resort projects.
According to Phan Huu Thang, Vice President of the Vietnam National Real Estate Association (VNREA), Vietnam attracted 600 million USD in FDI to property projects in the first five months of 2017.
Vietnam’s resort property is attractive to foreign investors thanks to the country’s popular tourist destinations, 4,000-year history, diverse culture and cuisine, hospitable people, and favourable geographic location, he said.
Not only foreign investors, many domestic groups are also investing in resort projects nationwide, with famous names such as FLC and VINGROUP, which own luxury resorts namely FLC Sam Son, FLC Quy Nhon, Vinpearl Nha Trang, and Vinpearl Phu Quoc.
Last year, Vietnam’s real estate sector lured about 1.3 billion USD, making up 10 percent of total FDI poured into the country. VNREA has predicted that the market will become busier.-VNA
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